Article by
Barbados Today

Published on
May 7, 2017

Barbadians will see a change in petroleum prices from midnight tonight. Consumers will pay more for gasoline and less for diesel, kerosene and liquefied petroleum gas (LPG).
The retail price of gasoline will move from $2.97 per litre to $3, an increase of three cents per litre. The price of diesel will drop from $2.28 to $2.15, a saving of 13 cents. Kerosene will now retail at $1.10 per litre, down from $1.12.
Meanwhile, liquefied petroleum gas (LPG) will retail at $146.85 per 100 lb cylinder, down from $157.72, a decrease of $10.87. The price of the 25 lb cylinder is now $41.81, a decrease of $2.72, while the 22 lb cylinder will now cost $36.96, a decrease of $2.39. The price of a 20 lb cylinder has moved from $35.77 to $33.60, a $2.17 decrease.
A Government-issued news release said these adjustments in retail prices are due solely to changes in the CIF (cost, insurance and freight) of these refined products.

Luis, it makes perfect sense actually. If the cost per barrel is going down, and government reduces its subsidy of gasoline (a luxury Barbadians now enjoy), then Government can actually close budget deficits much faster than it otherwise would be able to by simply pegging the domestic cost of gasoline to the price of crude. Tax receipts increase marginally while supply costs go down modestly = significant government savings, which I believe most would agree is a good thing (I.e less borrowing)

Luis, it makes perfect sense actually. If the cost per barrel is going down, and government reduces its subsidy of gasoline (a luxury Barbadians now enjoy), then Government can actually close budget deficits much faster than it otherwise would be able to by simply pegging the domestic cost of gasoline to the price of crude. Tax receipts increase marginally while supply costs go down modestly = significant government savings, which I believe most would agree is a good thing (I.e less borrowing)

It’s time bajans boycott this. Sick and tired every five minutes wanna calling for more money from d poor, look just yesterday NHC say them rent gotta go up now tell me how u expect to want more and ain’t giving jack?

It’s time bajans boycott this. Sick and tired every five minutes wanna calling for more money from d poor, look just yesterday NHC say them rent gotta go up now tell me how u expect to want more and ain’t giving jack?

Am I reading incorrectly? It would seem that there is a combined reduction in costs for various items to the tune of $18.15 per various units while the only increase was gasoline by $0.03/gallon. Yes I know most will argue one purchases more petrol that the other items, but it would seem to me the government just reduced the subsidies it pays for a luxury item (gasoline for a car is a luxury), while increasing subsidies for what most would consider necessities. How exactly is this a bad thing?

I think you’re missing the overarching point which is regardless of the increase ($1.71 per tank assuming an average 15 gallon tank btw), what we are talking about is Government reducing the subsidy on what most would consider a luxury item (gasoline for private transport). I don’t know that government is obligated to make operation of a private vehicle affordable by way a subsidy of gasoline. It is however obligated to ensure its citizens can afford to cook their meals. When one looks at the changes objectively, clearly the proposal is intended to make the cost of actually living more affordable – I think that is a reasonable goal and the policy reflects as much.

Am I reading incorrectly? It would seem that there is a combined reduction in costs for various items to the tune of $18.15 per various units while the only increase was gasoline by $0.03/gallon. Yes I know most will argue one purchases more petrol that the other items, but it would seem to me the government just reduced the subsidies it pays for a luxury item (gasoline for a car is a luxury), while increasing subsidies for what most would consider necessities. How exactly is this a bad thing?

I think you’re missing the overarching point which is regardless of the increase ($1.71 per tank assuming an average 15 gallon tank btw), what we are talking about is Government reducing the subsidy on what most would consider a luxury item (gasoline for private transport). I don’t know that government is obligated to make operation of a private vehicle affordable by way a subsidy of gasoline. It is however obligated to ensure its citizens can afford to cook their meals. When one looks at the changes objectively, clearly the proposal is intended to make the cost of actually living more affordable – I think that is a reasonable goal and the policy reflects as much.

you Want to see the economic power you have, boycott all the gas distributors except one, everyone use this company and see where the prices will go. You have about for or five different distributors on the island, choose one and leave out the others. Prices must go down.

you Want to see the economic power you have, boycott all the gas distributors except one, everyone use this company and see where the prices will go. You have about for or five different distributors on the island, choose one and leave out the others. Prices must go down.

The oil trading business is very complex and complicated. The price of oil soared in the eighties because the cost of extracting and refining far exceeded the selling price and that did not include shipping storing and other peripheral costs. Texas oil magnates were forced to cap their wells and the US had to import more which caused a shortage and that sent up prices. The Arabs decided to flood the market which stimulated a drop. With the advent of extensive use and research of green energy. World oil prices are more than likely to stay low with a marginal profit line. This has forced the Arabs to invest in hospitality and tourism which includes shopping and pharmaceutical production which does not exclude Insurance and medical. Manufacturing is left to third wirld countries with dirt cheap labor. Barbados must carefully select what direction it needs to move in and go there.
I think an amalgamation of Caribbean countries will benefit us all as a united Caribbean economy with one currency, one constitution, one tax system, and very importantly, movement of people. Prevent them from plying their professional skills outside the Caribbean. How can this be achieved? It must begin with two or three countries forming a union which will be the nucleud for eventual growth into a single united Caribbean alliance compu=ounded with love, trust and respect.

The oil trading business is very complex and complicated. The price of oil soared in the eighties because the cost of extracting and refining far exceeded the selling price and that did not include shipping storing and other peripheral costs. Texas oil magnates were forced to cap their wells and the US had to import more which caused a shortage and that sent up prices. The Arabs decided to flood the market which stimulated a drop. With the advent of extensive use and research of green energy. World oil prices are more than likely to stay low with a marginal profit line. This has forced the Arabs to invest in hospitality and tourism which includes shopping and pharmaceutical production which does not exclude Insurance and medical. Manufacturing is left to third wirld countries with dirt cheap labor. Barbados must carefully select what direction it needs to move in and go there.
I think an amalgamation of Caribbean countries will benefit us all as a united Caribbean economy with one currency, one constitution, one tax system, and very importantly, movement of people. Prevent them from plying their professional skills outside the Caribbean. How can this be achieved? It must begin with two or three countries forming a union which will be the nucleud for eventual growth into a single united Caribbean alliance compu=ounded with love, trust and respect.

Most of you are like sheep. You don’t think for yourself. The cost of gasoline is now cheaper than it was in 20 December 2014 ( $3.57 per litre) and (January 2015 – $3.24 ). April 2015 diesel was $2.30 per litre. The point is that prices go up and down. Do the research.

Yes I did the research and gas was $2.98 as of the 5th of MARCH 2017 dropped to $2.97 in April and now at the highest for the year so far.
Just like I said back then despite the drops and increases it actually RISES every 3 or 4 months.
Readers can check for themselves for the next 4 months and you will see that it won’t be below $3 by September.

Most of you are like sheep. You don’t think for yourself. The cost of gasoline is now cheaper than it was in 20 December 2014 ( $3.57 per litre) and (January 2015 – $3.24 ). April 2015 diesel was $2.30 per litre. The point is that prices go up and down. Do the research.

Yes I did the research and gas was $2.98 as of the 5th of MARCH 2017 dropped to $2.97 in April and now at the highest for the year so far.
Just like I said back then despite the drops and increases it actually RISES every 3 or 4 months.
Readers can check for themselves for the next 4 months and you will see that it won’t be below $3 by September.

Somethis is very wrong with this process. gasoline prices are dropping all over the work, but Barbadians are getting whopped with price increases. was there ever a reduction in gas prices for Barbadians

Somethis is very wrong with this process. gasoline prices are dropping all over the work, but Barbadians are getting whopped with price increases. was there ever a reduction in gas prices for Barbadians